Finom Closes €115M Funding Round Amidst European Fintech Growth
Amsterdam-based Finom, a fintech platform serving SMBs, just closed a €115 million Series C round, led by AVP (formerly AXA Venture Partners). It also gained backing from Headline Growth, General Catalyst, Northzone, and Cogito Capital x.com
Finom doubled its 2024 revenue and now supports over 125,000 business customers across Germany, France, Italy, Spain, and the Netherlands smebusinessreview.com Its goal? Reach 1 million SMBs by end-2026 techfundingnews.com
The platform bundles banking, invoicing, payments, and AI-powered accounting, with recent additions like lending in the Netherlands techfundingnews.comThe new capital will fuel product expansion, geographic growth, and potential strategic acquisitions finextra.com
Plus, in May it received €92.7 million non–dilutive growth funding from General Catalyst—bringing its total capital to over €300 million cincodias.elpais.com
European Fintech Landscape
The European fintech scene is experiencing substantial growth, with numerous startups emerging to disrupt traditional financial services. Factors driving this growth include increasing adoption of digital technologies, favorable regulatory environments, and strong demand for innovative financial solutions tailored to specific business needs.
Finom distinguishes itself by concentrating on the SMB market, offering a range of financial tools and services designed to streamline operations for small businesses. These services often include business accounts, payment processing, invoicing, and expense management – all integrated into a user-friendly platform.
Details of the Funding Round
Amsterdam-based Finom, the SMB–focused fintech, secured €115 million in Series C equity, led by AVP alongside Headline Growth, General Catalyst, Northzone, and Cogito Capital. fintech.global
Already backed by €92.7 million in non–dilutive growth funding from General Catalyst’s CVF, Finom now boasts over €300 million in total capital. techcrunch.com
Finom currently serves 125,000+ European SMBs, offering banking, invoicing, payments, expense tracking, lending in the Netherlands, and AI-powered accounting. linkedin.com
Why This Investment Matters
- Product expansion: The company plans to boost offerings—including credit, deposits, and AI tools. techcrunch.com
- European scale: Funds will expand operations across Germany, France, Italy, Spain, and the Netherlands. sifted.eu
- Tech infrastructure: Investment in AI and platform efficiency supports internal automation and customer experience. digitrendz.blog
- Strategic acquisitions: Finom may acquire complementary fintechs to accelerate growth and diversify services. sifted.eu
Market Momentum & Strategy
Finom targets 1 million SMBs by end‑2026, building on its 2024 revenue—which doubled—and positive unit economics. finextra.com
Its mix of equity and non–dilutive growth capital not only boosts cash but enhances valuation and investor confidence. techfundingnews.com
Still, it remains lean compared to fintech giants like Revolut or N26—raising a fraction of their billions, but rivaling peer Qonto. digitrendz.blog
What This Means for the Future
This substantial funding round positions Finom as a key player in the European fintech landscape. As the company continues to innovate and expand its services, SMBs across Europe can expect access to more efficient and tailored financial solutions, driving economic growth and innovation. The investment also signifies the maturing of the fintech ecosystem, where specialized solutions are increasingly valued.
